Retail sales in Japan increased 1.2% MoM on a seasonally adjusted basis in November 2021 after a downwardly revised 1% rise in October. Daily Covid cases in Japan continued to decline through November, encouraging consumers to spend more on goods and services. The government lifted curbs in September and has not reinstated them, except for strict border controls to stop the spread of the new omicron variant. The government also approved a record $940 billion budget for fiscal 2022 in December, a week after the Bank of Japan maintained ultra-loose monetary policies in a bid to further support the economy. The pick up in retail activity on a monthly basis came mainly from the rise in sales of fabrics apparel & accessories (7.5%), motor vehicles (7.2%) and general merchandise (4.2%); while falling sales were seen from machinery & equipment (-5.4%) and fuel (-2.9%). source: Ministry of Economy Trade & Industry (METI)
Retail Sales MoM in Japan averaged 0.01 percent from 1992 until 2021, reaching an all time high of 11.60 percent in June of 2020 and a record low of -13.70 percent in April of 1997. This page provides the latest reported value for - Japan Retail Sales MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Retail Sales MoM in Japan is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Retail Sales MoM is projected to trend around 0.60 percent in 2022, according to our econometric models.